MedMen Enterprises Inc. (“MedMen” or the “Company”) (otcqx:MMNFF) is pleased to announce that it has closed its
previously announced acquisition (the “Acquisition”) of Seven Point, a
licensed medical cannabis dispensary located in the historic Chicago
suburb of Oak Park, Illinois.

Pursuant to the Acquisition, the Company paid a combination of cash at
closing, deferred cash and subordinate voting shares of MedMen, for an
undisclosed total amount.
[1]

With the closing of the Acquisition and following the completion of the
pending acquisition of PharmaCann, LLC, MedMen will be licensed for five
medical-use cannabis dispensaries in Illinois. Seven Point is located in
a high foot traffic shopping district among popular restaurants, cafes
and major retailers like Whole Foods, The Gap and Pier 1.

MedMen’s Expanding National Footprint and Operational Status

MedMen continues to bring assets online with the number of operational
retail locations now at 18 with the addition of this license.

State

Retail

Cultivation/Manufacturing

Stores Permitted Under Licenses

Currently Operational Stores
[2]

Licenses for Facilities
[3]

MedMen

PharmaCann

MedMen

PharmaCann

MedMen

PharmaCann

Arizona

3

0

1

0

X

California

12

0

9

0

X

Florida

30

0

0

0

X

Illinois

1

4

1

4

X

Maryland

0

1

0

1

Massachusetts

0

3

0

1

X

Michigan

1

1

0

0

Nevada

3

0

3

0

X

New York

4

4

4

4

X

X

Ohio

0

1

0

0

X

Pennsylvania

0

9

0

0

X

Virginia

0

1

0

0

X

TOTAL:

54

24

18

10

TOTALS COMBINED:

78

28

1. The Company does not disclose deal values for transactions it deems
immaterial from a purchase price standpoint.

2. Includes three “Powered by MedMen” stores - stores not yet MedMen
rebranded but owned by the Company. Also, includes three stores managed
by MedMen but not owned by the Company.

3. Facilities noted in the chart include operational and licensed
non-operational facilities. Facilities are licensed for either
cultivation or manufacturing operations and in certain instances for
mixed-use (cultivation and manufacturing) as permitted by local
regulatory authorities.

4. The chart above includes licenses expected to be acquired through the
announced PharmaCann transaction and other pending transactions, and
those acquired in recently closed acquisitions. Through the acquisition
of PharmaCann, MedMen will own an additional twenty-five licenses across
12 states (permitting operation of an additional 24 retail facilities
and 7 cultivation/manufacturing facilities). Those 12 states comprise
approximately 50% of the total U.S. population.

ABOUT MEDMEN:

MedMen is a cannabis retailer with operations across the U.S. and
flagship stores in Los Angeles, Las Vegas and New York. MedMen’s mission
is to provide an unparalleled experience that invites the world to
discover the remarkable benefits of cannabis because a world where
cannabis is legal and regulated is a safer, healthier and happier world.
Learn more at www.medmen.com.

SOURCE: MedMen Enterprises

Cautionary Note Regarding Forward-Looking Information and Statements

This press release contains “forward-looking statements” and
“forward-looking information” within the meaning of applicable
securities laws (collectively, “forward-looking information”) with
respect to the Company, including, but not limited to: information
concerning the completion of the contemplated business combination with
PharmaCann, LLC, expectations regarding whether the contemplated
acquisition will be consummated, including whether conditions to the
consummation of the proposed acquisition will be satisfied and whether
the proposed acquisition will be completed on the current terms, the
timing for completing the proposed acquisition, expectations for the
effects of the proposed acquisition, including the potential number and
location of facilities and stores or licenses therefor to be acquired,
expectations regarding the markets to be entered into by or expansion in
current markets by the Company as a result of completing such proposed
acquisition, the ability of the Company to successfully achieve its
business objectives as a result of completing the contemplated
acquisition, estimates of future cultivation, manufacturing and
extraction capacity, estimates of future revenue or revenue growth (and
the method by which such future revenue is generated), store related
forecasts, including as to number of planned stores to be opened in the
future, and any other statement that may predict, forecast, indicate or
imply future plans, intentions, levels of activity, results, financial
position, operational or financial performance or achievements. Such
forward-looking information involves known and unknown risks,
uncertainties and other factors which may cause the actual plans,
intentions, activities, results, financial position, performance or
achievements of the Company to be materially different from any future
plans, intentions, activities, results, financial position, performance
or achievements expressed or implied by such forward-looking
information. Often, but not always, forward-looking information can be
identified by the use of words such as “plans,” “expects,, “is
expected,” “budget,” “scheduled,” “estimates,” “forecasts,” “intends,”
“anticipates,” will,” “projects” or “believes” or variations (including
negative variations) of such words and phrases, or statements that
certain actions, events, results or conditions “may,” “could,” “would,”
“might” or “will” be taken, occur or be achieved. Except for statements
of historical fact, information contained herein constitutes
forward-looking information.

Forward-looking information is not a guarantee of future performance and
is based upon a number of estimates and assumptions of management at the
date the statements are made including among other things assumptions
about: the contemplated acquisition being completed on the current terms
and current contemplated timeline; development costs remaining
consistent with budgets; favorable equity and debt capital markets; the
ability to raise sufficient capital to advance the business of the
Company; favorable operating conditions; political and regulatory
stability; obtaining and maintaining all required licenses and permits;
receipt of governmental approvals and permits; sustained labor
stability; stability in financial and capital goods markets; favorable
production levels and costs from the Company’s operations; the pricing
of various cannabis products; the level of demand for cannabis products;
and the availability of third party service providers and other inputs
for the Company’s operations. While the Company considers these
assumptions to be reasonable, the assumptions are inherently subject to
significant business, social, economic, political, regulatory,
competitive and other risks and uncertainties, contingencies and other
factors that could cause actual performance, achievements, actions,
events, results or conditions to be materially different from those
projected in the forward-looking information. Many assumptions are based
on factors and events that are not within the control of the Company and
there is no assurance they will prove to be correct.

Furthermore, such forward-looking information involves known and unknown
risks, uncertainties and other factors which may cause the actual plans,
intentions, activities, results, financial position, performance or
achievements of the Company to be materially different from any future
plans, intentions, activities, results, financial position, performance
or achievements expressed or implied by such forward-looking
information. Such factors include, among others: the ability to
consummate the proposed acquisition; the ability to obtain requisite
regulatory approvals and third party consents and the satisfaction of
other conditions to the consummation of the proposed acquisition on the
proposed terms and schedule; the potential impact of the announcement or
consummation of the proposed acquisition on relationships, including
with regulatory bodies, employees, suppliers, customers and competitors;
the diversion of management time on the proposed acquisition; risks
relating to cannabis being illegal under US federal law and risks of
federal enforcement actions related to cannabis; negative changes in the
political environment or in the regulation of cannabis and the Company’s
business; risks relating to lack of banking providers and
characterization of the Company’s revenue as proceeds of crime as a
result of anti-money laundering laws and regulation; the costs of
compliance with and the risk of liability being imposed under the laws
the Company operates under including environmental regulations; negative
shifts in public opinion and perception of the cannabis industry and
cannabis consumption; risks that service providers may suspend or
withdraw services; the limited operating history of the Company;
reliance on the expertise and judgement of senior management of the
Company; increasing competition in the industry; risks related to
financing activities, including leverage; risks related to the
management of growth; increased costs related to the Company becoming a
publicly traded company; risks inherent in an agricultural business;
adverse agricultural conditions impacting cannabis yields; risks
relating to rising energy costs; risks of product liability and other
safety related liability as a result of usage of the Company's cannabis
products; negative future research regarding safety and efficacy of
cannabis and cannabis derived products; risk of shortages of or price
increases in key inputs, suppliers and skilled labor; a lack of reliable
data on the medical and adult-use cannabis industry; loss of
intellectual property rights or protections; cybersecurity risks;
constraints on marketing products; fraudulent activity by employees,
contractors and consultants; tax and insurance related risks; risk of
litigation; conflicts of interest; compliance with extensive government
regulation; changes in general economic, business and political
conditions, including changes in the financial markets; as well as those
risk factors discussed in the Company’s Annual Information Form filed on
SEDAR at www.sedar.com
on November 2, 2018 and discussed in the Company’s other public filings
available on SEDAR. Although the Company has attempted to identify
important factors that could cause actual results to differ materially,
there may be other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that such
forward-looking information will prove to be accurate as actual results
and future events could differ materially from those anticipated in such
information.

Accordingly, readers should not place undue reliance on forward-looking
information. Forward-looking information is provided and made as of the
date of this press release and the Company does not undertake any
obligation to revise or update any forward-looking information other
than as required by applicable law.

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